David McNamara: Improving economic resilience should be a budget priority

The growing reliance on multinationals to underpin the tax base remains the key threat to the economy and the Government finances in the face of geopolitical risks and recent 'de-globalisation' trends

Minister for Finance Jack Chambers will announce his first budget in October. Picture: Leon Farrell / Photocall Ireland

The recently released summer economic statement set the boundaries for the upcoming Irish Budget in October, with the Government announcing a planned budget day package of €8.3bn, 3% of gross national income (GNI*).

The majority, around €7bn, of this is for spending measures with the remainder of €1.4bn expected to fund income tax cuts.